Special Mandatory Redemption Trigger definition
Examples of Special Mandatory Redemption Trigger in a sentence
Within ten days of the occurrence of the Special Mandatory Redemption Trigger, the Issuer will give notice of the Special Mandatory Redemption to each Holder of the Notes and to the Trustee, stating, among other matters prescribed in the Indenture, that a Special Mandatory Redemption Trigger has occurred and that all of the Notes will be redeemed on the redemption date set forth in such notice (which will be no earlier than 15 days and no later than 30 days from the date such notice is given).
The Trustee shall not be charged with knowledge of, or responsible for monitoring, whether a Special Mandatory Redemption Trigger Date has occurred.
Upon the occurrence of the Special Mandatory Redemption Trigger Date, the Company will promptly (but in no event later than 5 business days following the Special Mandatory Redemption Trigger Date) cause notice to be delivered electronically or mailed, with a copy to the Trustee, to each Holder of the Notes at its registered address (such date of notification to the Holders, the “Redemption Notice Date”).
In the event that the Company becomes obligated to redeem the Notes pursuant to the foregoing paragraph, it shall promptly, and in any event not more than five (5) Business Days after the Special Mandatory Redemption Trigger Date, deliver notice to the Trustee of the Special Mandatory Redemption and the Special Mandatory Redemption Date (which date shall be no later than the Special Mandatory Redemption End Date).
Upon the consummation of the Spin-Off prior to the occurrence of the Special Mandatory Redemption Trigger Date, this Section 5 will cease to apply.